It was only a few years ago that just about anyone with a pulse could visit a lender and walk out with a mortgage. How times have changed. These days, it has become far more difficult, as many lenders tighten their belts and make their lending criteria stricter than ever.

Make no mistake about it, lenders are currently being extremely cautious, even if you appear to be a model candidate. You can’t really blame them though, as they have been through harsh times recently, with foreclosures, bailouts, and a recession all still firmly in recent memory.

Because of this, you need to be more prepared than ever if you want to secure that mortgage you so desperately need. Make you sure you educate yourself on the current state of the market, and have copies of all the essential documents that will be needed to assess your application.

Also, be sure to get a copy of your credit report before you start approaching lenders. Your credit score is one of the major factors they consider when looking at your application, and if it is less than ideal then you might want to put in a bit of work to improve your credit score before you proceed.

It’s not all doom and gloom however. Although getting a mortgage is tougher than it used to be, that doesn’t mean it is impossible, and one thing you have in your favor is that there are now more mortgage lenders than ever before.

Because of this, you should never feel like applying with one lender is your only chance. As they say, there is plenty more fish in the sea,î and you should adopt this attitude at all times in your search for that perfect mortgage. Just because one lender rejects your application, that doesn’t mean everyone will.

Actually, you might find it helpful to enlist the services of a mortgage broker to help you on your quest. A good broker will be able to take a look at your situation and then use their many years of knowledge and experience to find you the best mortgage for your needs.

This is especially a good route to take if you are short on time and don’t have the hours to identify different mortgage lenders and approach them individually. Remember, you need to work smarter, not harder.